Egyptian Stocks: Orascom Telecom, Raya, Housing & Development

Egypt’s benchmark EGX 30 Index (EGX30)
dropped for a fifth day, losing 0.1 percent to 4,177.01 at the
2:30 p.m. close in Cairo, the lowest level in more than a month.

The following shares rose or fell. Symbols are in
parentheses.

Housing & Development Bank (HDBK) climbed the most since
Oct. 25, advancing 2.3 percent to 12.94 Egyptian pounds. The
Cairo-based lender said it sold an administrative building on
the outskirts of the capital for 376 million pounds ($63
million), resulting in a profit of 175 million pounds.

Medinet Nasr Housing (MNHD) retreated 1 percent to 11.81
pounds, the lowest level in more than a month. The Cairo-based
real-estate developer said its nine-month profit fell by almost
a third from a year earlier to 40.7 million pounds.

Orascom Telecom Holding SAE (ORTE) rose 1.3 percent, the
most in more than two weeks, to 3.16 pounds. Algeria’s Finance
Minister Karim Djoudi said the local unit of North Africa’s
biggest mobile-phone company has agreed to share its books, a
step that will help to accelerate the valuing of the company.

Raya Holding Co. (RAYA) fell to the lowest since Oct.
19, losing 1.3 percent to 3.81 pounds. The information
technology company said its nine-month profit dropped to 24.5
million pounds from 29.2 million pounds a year earlier.